9 November 2016

Rs 500, Rs 1000 notes are no longer legal tender: What you need to know and do- Indian Railway Info

1. Banks will be closed today for public transactions and ATMs will not function • in some places also on Thursday November 10, said PM Modi . to allow banks to make the transition.

2. Deposit old notes of Rs. 500 or Rs. 1000 in banks or post office accounts from November 10 till December 30, 2016 without any limit. There will be a limit on withdrawal of Rs. 10,000 per day and Rs. 20,000 per week. This limit will be increased in the coming days. You must carry your Aadhaar card and PAN Card when you go to exchange notes. The limit you can exchange is Rs. 4000 upto November24.

3. After December 30, these can be changed at the Reserve Bank of India.

4. Tourists can change notes at airports.

5. For72 hours or till November11, government hospitals will accept Rs. 500,1000 notes. A doctors prescription must be carried with such notes.

6. Counters forrailway, bus and air t ickets too will accept these notes for 72 hours for purchase of tickets.

7. This will also be allowed till Nov 11 at petrol stations authorised by public sector oil companies, milk booths and crematoria and burial grounds.

8. Notes of Rs. 100 and lower denominations will all continue to be legal tender.

9. Coins too will continue to be legal tender. Online transactions and card payments will not be affected. 10. The RBI has accepted a proposal for new 500 and 2000 rupee notes, the Prime Minister said. New 500 and 2000 rupee notes will be launched on Thursday, November 10.